[quote=Nor-LA-SD-guy][quote=SK in CV][quote=Nor-LA-SD-guy]
Yes it would definitely encourage rental property investment.[/quote]
Why more than now? (yes, this is a test)[/quote]
Rich and well to do people would be looking (much harder) for a deduction, poor or moderate income people would need a roof and there would be a lot less incentive to buy their own place (it would not reduce the cost to build homes or the cost of land).
In the end the landlords would win with this.
Yes it would be good to own apartment units again.[/quote]
If this change happens, the price point at which home ownership makes sense will be well above the price at which owning rental property makes sense.
The end result is likely to be one in which people who can own property own rentals and live an a rental themselves. We’ll all rent from our neightbors, who will rent from us.
My guess is that this proposal would actually end up taking in far fewer taxes than projected.
